The Hedaya Capital Group provided a $7.5 million factoring facility to an international manufacturer of intimate apparel to support strategic initiatives and future plans.
Although asset-rich with a strong balance sheet and good brands, the company’s existing asset-based lending facility was set to expire. Company leadership sought a new financing partner with deep apparel industry expertise, the ability to navigate complex international affiliate structures and experience separating wholesale and manufacturing receivables.
Knowing of Hedaya Capital’s expertise in the apparel sector, a consultant referred the group to Alfred Hedaya, principal, to explore options. Hedaya Capital moved quickly to structure a $7.5 million facility designed to provide the flexibility the company needed to develop and execute its strategic plan.
“The company had built an enduring legacy over more than 80 years, and we recognized that immediately. Where others saw uncertainty, we saw a storied brand with loyal customers, strong products, and talented leadership,” Alfred Hedaya said. “We were excited to bring both the capital and the expertise to help them chart the next chapter.”
The new facility delivered the liquidity, flexibility and time the company needed to address operational priorities and position the business for the best path forward.
“This situation was not a simple one; speed, complexity and flexibility were key factors in working with Hedaya,” the company’s chief restructuring officer said. “They were straightforward and easy to work with, as well as very direct in dealing with issues up front rather than waiting until the eleventh hour. They created an opportunity for us to identify next steps and develop a roadmap for success.”
